Local education agency indirect cost rate proposal webinar

The Maine DOE has contracted with MAXIMUS Consulting Services to provide indirect cost rate proposal (ICRP) services to the Department, the State’s local education agencies (LEAs) and other entities that receive federal funds through Maine DOE and are interested in learning more about the recovery of indirect costs from their federal funds.

MAXIMUS will be providing a LEA ICRP Training Webinar on Oct. 20, at 10 a.m. The webinar will define direct, indirect and disallowed/excluded costs and will apply the definitions to the Department’s LEA Chart of Accounts. Instructions will be provided on completing the template required for consideration of rate approval, which calculates both the restricted and unrestricted rates.

The LEA ICRP Webinar will discuss the following topics:

Defining Indirect Costs

Indirect Cost Rates

Types of Costs

LEA ICRP Workbook and Instructions

Data Needed

Getting Started

Implementation

References

Handout materials will be provided prior to the webinar, so that you can review the information prior to the presentation. The session will be open to questions as well.

A proposal template and instructions for preparation of the LEA ICRP that will calculate both unrestricted and restricted indirect cost rates is currently pending approval with the U. S. Department of Education.

MAXIMUS will prepare FY16 ICRPs based on FY14 costs for interested LEAs and other sub-recipients and submit them to Maine DOE for approval. If your LEA is interested in receiving a rate for use in FY16, please refer to the following website for further instructions as well as a workbook that requests the data that will be needed from you in order to prepare the ICRP: http://www.maine.gov/education/audit/indirectcostrate.shtml.

Individual LEAs will be responsible for calculation of their FY17 rates, which are based on FY15 expenditures, by completing the template. The completed template must be submitted to Maine DOE for approval prior to March 31, 2016.